Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
It’s probably time you switched banks—4 easy steps for Canadians + MORE Jun 29th
When you opened your first bank account, chances are it was with the same financial institution your parents used—because, why not? And given how loyal Canadians are to their banks, there’s a good chance you’re still banking with the same institution. In fact, 70% of Canadians held the sa.... More »
How Deferring Mortgage Payments Could Affect Your Credit Score + MORE Apr 14th
For the past few weeks, we’ve become accustomed to Prime Minister Trudeau’s daily update from Rideau Cottage in Ottawa. To help ease the economic impact of the COVID-19 pandemic, the government has put forward several measures intended to support those who have lost their jobs due to the outbre.... More »
What is cryptocurrency? And how do you invest in it? Aug 19th
You can’t read a news site, watch a YouTube video or scroll any social media platform without coming across a reference to bitcoin, ethereum or other cryptocurrencies. Maybe your own friends and family members are nattering non-stop about their crypto investments.
Time will tell if crypto is th.... More »
Scotiabank profit rise pushes big bank profits up 20% to almost $10B this quarter + MORE May 30th
Scotiabank boosted its second-quarter net income by 30 per cent to $2.06 billion, in a period that saw all of the country's biggest banks shrug off concerns about high house prices and overstretched borrowers..... More »
Streetwise newsletter: CIBC mulls offering Caribbean subsidiary; MTY strikes $248-million deal for Imvescor + MORE Dec 12th
Plus: New wealth management firm sets sights on Canada's big banks
.... More »
Yellen likely to face questions about Wells Fargo
– canadianbusiness.com
WASHINGTON – Federal Reserve Chair Janet Yellen, who has been in the hot seat over the central bank’s interest-rate policy, now has another headache: Wells Fargo.
Yellen is likely to face sharp questions from a House committee Wednesday over whether federal banking regulators fell down on the job by not detecting practices at Wells Fargo that allegedly had the nation’s second largest bank opening millions of accounts without customers’ permission.
Yellen is scheduled to testify before the House Financial Services Committee on the Fed’s responsibilities to supervise the nation’s largest banks.
Earlier this month, U.S. and California regulators fined Wells Fargo $185 million. They charged that bank employees opened unauthorized accounts and signed up customers for online banking, debit cards and other services without their knowledge in an effort to meet aggressive sales targets.
The Labor Department, meanwhile, is investigating possible abuse of Wells Fargo employees…
Yellen is likely to face sharp questions from a House committee Wednesday over whether federal banking regulators fell down on the job by not detecting practices at Wells Fargo that allegedly had the nation’s second largest bank opening millions of accounts without customers’ permission.
Yellen is scheduled to testify before the House Financial Services Committee on the Fed’s responsibilities to supervise the nation’s largest banks.
Earlier this month, U.S. and California regulators fined Wells Fargo $185 million. They charged that bank employees opened unauthorized accounts and signed up customers for online banking, debit cards and other services without their knowledge in an effort to meet aggressive sales targets.
The Labor Department, meanwhile, is investigating possible abuse of Wells Fargo employees…
